Monday, November 26, 2012

Links Nov 26

Spain: Technology giants, tax dwarves
El País
Nov
23 - Apple, Microsoft, Google, Facebook, Yahoo, Ebay and Amazon generated
billions of Euros in sales but paid only 25 million Euros to the
Treasury in the past three years.

Cayman networks in China Cayman News Service
Nov
23 - On Cayman's representation at a China Offshore Summit. "Besides
private-sector firms such as law firms and company formation
specialists, jurisdictions in attendance included Cook Islands, Samoa,
the Bahamas, Cyprus, and the British Virgin Islands."

“The concept of a withholding tax has failed” swissinfo
Nov
24 - "Most Swiss newspapers have given the last rites to the
withholding tax model, following the “no” from the German upper house of
parliament to a tax treaty aimed at legalising undeclared assets held
by Germans in Swiss banks ... 'The time has come for Plan B,' reckoned
Le Temps in Geneva, adding that this officially didn’t exist."If you thought tax evasion was insignificant think again – managing it represents 6 – 7% of the Swiss economy Tax Research UK
Nov 25 - Commenting on the Austria and UK governments continuing to support the Rubik agreements.

Swiss probe $139M SNC-Lavalin laundering case CBC
Nov
25 - The case involves a network of Swiss bank accounts and BVI
companies with lone directors. "SNC-Lavalin knowingly allowed and
condoned the use of millions of
dollars to fund lobbyists in the Middle East to get lucrative contracts
with major leaders of some countries, particularly in Libya," the suit
claims.

Africa Lost 1.6 Trillion in Capital Flight and Odious Debt Over Forty Years The Real News
Nov 26 - Featuring new research from new research from one of the authors of Africa's Odious Debts, Léonce Ndikumana.

U.S.: Early Dividend for Wal-Mart Is Latest Move in Tax Tactics NY Times
Nov
19 - "The Walton family, which founded Wal-Mart, could save as much as
$180 million in federal income taxes after the huge retailer announced
Monday that it would pay out its quarterly dividend on Dec. 27 instead
of Jan. 2, as was scheduled."

Inequality is Killing Capitalism Project Syndicate
Nov 21 - Although not a new analysis, this is a good account.

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The Tax Justice Network (TJN) is an international, non-aligned network of researchers and activists with a shared concern about the harmful impacts of tax avoidance, tax competition and tax havens.
www.taxjustice.net